Busy. Please wait.
Log in with Clever

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever

Username is available taken
show password

Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Didn't know it?
click below
Knew it?
click below
Don't Know
Remaining cards (0)
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how


Chapter 9

financial statements Prepared to summarize the changes resulting from business transactions that occur during an accounting period.
income statement A report of the net income or net loss for a fiscal period; sometimes called a "profit and loss" statement.
statement of changes in owner's equity A financial statement prepared to summarize the effects of business transactions on the capital account.
balance sheet A report of the balances in all asset, liability, and owner's equity accounts at the end of the period.
report form A format for preparing the balance sheet in which the classifications of accounts are listed one under another.
statement of cash flows A financial statement that summarizes the cash receipts and cash payments resulting from business activities during a period.
ratio analysis Involves the comparison of two amounts on a financial statement and the evaluation of the relationship between these amounts.
profitability ratio Ratios used to evaluate the earnings performance of a business during the accounting period (for example, return on common stockholders' equity).
return on sales The portion of each sales dollar that represents profit. To calculate this ratio, divide net income by sales.
current assests Assets that are either used up or converted to cash during the normal operating cycle of the business, usually one year.
current liabilities Debts of the business that must be paid within the next accounting period.
working capital The amount by which current assets exceed current liabilities.
liquidity ratio The measure of a business's ability to pay its current debts as they become due and to provide for unexpected needs of cash.
current ratio The relationship between current assets and current liabilities; calculated by dividing the dollar amount of current assets by the dollar amount of current liabilities.
quick ratio A measure of the relationship between short-term assets and current liabilities.
Created by: erinlarson
Popular Accounting sets




Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
restart all cards